Putting Your Faith With Financial Advisers

9/16/2011 2:10PM

Talking about religion is often seen as taboo in business. But as Veronica Dagher explains on Lunch Break, for financial advisers it can sometimes be a crucial topic toward gaining a full understanding the goals of their clients.

This transcript has been automatically generated and may not be 100% accurate.

go ... the ... death scene next ... it's tricky more financial advisors are saying ... yes we have prompted Acura's to tells all about this trend and ... some of that that the policy people and to ... but again the start-up with with a profit ... a lot of this advisor say ... this helps them have a better relationship with the client ... exactly the thing is a really great way to ... bond with their claim that this religion spirituality something ... so personal but people that ... getting to their client on this level ... create the bombing never would've had if they spoke about numbers ... so you people think about how does religion possibly in things that affect ... your investments that is ... really awesome very specific ways that does tells about that I did affect everything from investing what stocks you own ... OXY with the planning ... so one interesting thing um we found was that Adviser California ... has not claimed play out their spiritual values ... and so what Mormon family laid out ... the note there are um what are their values with the courage to fully tie ... or the commitment to community service ... and so when not those values that advisor said linkup clarify how their spirituality ... met up with their finances ... he also helped them on the deal the volatility in the market ... just because they were just sort of more ... a piece of wood with with that with themselves with their strategy so that when ... they had the Hopson mostly when they have the Dow's they were called out in a factory ... they took a long-term deal you know it's it's not just about this like the third of ... their legacy their children's lives so it's not just in the moment so it's up to one down some of the specifics ... in terms of the types of stocks you might invest in healthy spirituality any religion ... play a role that it's a good question one advisor on how to claim tell them ... they have social values and said that a visor spot ... you know that means no weapons no alcohol no ... unkind things like that I think the fact that wake ... up but said that when out and bought the pharmaceutical stocks the backline ... well pharmaceutical stocks there was of great value some electric solid company it bought the claim would be ... on drills ... turns out the claim deal like this up because they found the odd ... that the stock this company made birth control pills ... it so that that that isn't there yet only had limited exactly so that was offensive to them and so the advisor have a son thank the entire night someone who does this Muslim any ... of these you talk to me one way that might come and Applied dead yet was really really interesting because in Islam but at least part of ... the reason is ... that a person to companies that have a lot of debt or take a significant out of their money from not interest him for lending ... and selling ... them ... I that ... in turn August advisor doesn't have any claims money ... in bank stocks and actually turn out to be a really good thing in the downturn ... because they didn't own any these ... banks and again in Hamburg ... and I think what you're saying to you that ... your even if the stops were getting hammered at least eighteen then investing some kids in line ... with what you personally believe ... you can do that you can sleep better tonight that we think that would ... be the case exactly ... what about a year ... Roche the security adviser or even if your client ... his religion to be an awkward conversation some sometimes between people and your bicycle or stepping on toes ... what's the rule of thumb how to do this you know it seems to be a very individual situation ... of some advisors which is to bring it up organically if a claim that had what you doing this weekend ... the adviser one hide the fact that we're going to church ... and then explain might bring up the fact though I'm going to listen to God and then start talking about you know the different faiths it really depends on the claim their level of comfort ... on another adviser spoke to had ... a statue of ability and the good and across their office and that was the conversation starter ... to really depends on the advisor and also ... insert a filling out a decline to see how what level of comfort they have with these issues can assure you if you were not as bad be inching up to what happens if ... you know the values of of of your religion or your own your own spiritual ... values conflict with that of your adviser's or vice ... versa ... we think that would play out his advisers ... Shaw Disses were to ... do with the client wants no matter what have we think he acted with a eleven day some advisors also declined as always right clicking the client ... but there than they might also bring up the fact that what you know we may not agree on this but ... here's another way to consider what you're thinking about on site if they really just depends on the situation think every client advisor relationship Disney is unique to really depends on what that advisers focus on some advisors are really just wanna focus on the bottom line in the numbers to just wanna keep their clients to get as many referrals as possible ... keep everyone happy some advisors are willing to have a little bit more give and take so it really depends on the relationship ... is a good advice that you know I've seen some of this is been anecdotal just ... that your gatherings to show that more ... of advisors are dealing with this but I think it's the duty is to what you think it's happening ... now ... I ... you know what ... um that adviser who said ... the turmoil on them up market volatility in the market is getting people to have some questions they may not have thought about a half ... getting people to say no but what it what is the meaning of what's happening now as this affect the rest of my life ... and getting them to ask us to think about more than the moment ... and I think when you think about that with more than the moment people may be automatically turn to things like religion or spirituality to get a broader perspective ... and so and people are also looking for as much about making get me now like calling on in the higher powers to help them with their portfolios ... now whatever it takes or happy whether these ... writing that since they are very good point some excellent reporting thanks so much from it and answered the midday sun